Europe faces 'unprecedented risk' of gas shortage, IEA says

Europe faces “unprecedented risks” to its natural gas supplies this winter after Russia cut off most pipeline shipments and could wind up competing with Asia for already scarce and expensive liquid gas that comes by ship, the International Energy Agency said.

BRITAIN MARKETS The recovery for the sterling has settled some nerves in the currency market.
Kwarteng/Truss tax cut backdown boosts Asian stocks

Investors are taking heart from stability at the long end of the gilt market, even though emergency purchases from the Bank of England were modest.

Russia smuggling Ukrainian grain to help pay for Putin's war

When the bulk cargo ship Laodicea docked in Lebanon last summer, Ukrainian diplomats said the vessel was carrying grain stolen by Russia and urged Lebanese officials to impound the ship.

Asian shares mostly lower as recession fears deepen

Asian shares were mostly lower on Monday after Wall Street closed out a miserable September with a loss of 9.3%, the worst monthly decline since March 2020

Kwarteng to make crunch conference speech as revolt grows.

Kwasi Kwarteng will insist the Conservative Party must “stay the course” and back his plan for tax cuts in the face of a mounting Tory revolt.

UK scraps tax cut for wealthy that sparked market turmoil

The British government has dropped plans to cut income tax for top earners, part of a package of unfunded cuts that sparked turmoil on financial markets and sent the pound to record lows.

Chinese billionaire Richard Liu settles US rape allegation

Chinese billionaire and founder Richard Liu agreed to settle a lawsuit filed by a former University of Minnesota student who alleged he raped her in her Minneapolis apartment after a night of dinner and drinks with wealthy Chinese executives in 2018, attorneys for both sides announced Saturday.

Business Highlights: Stocks’ miserable month, EU inflation

Stocks end September down 9.3%, worst month since March 2020